| Pitney Bowes Inc. | ||||||||||
| Consolidated Balance Sheets | ||||||||||
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(Unaudited; in thousands, except per share data) |
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Assets |
September 30,
2015 |
December 31, 2014 (1) |
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| Current assets: | ||||||||||
| Cash and cash equivalents | $ | 715,976 | $ | 1,079,145 | ||||||
| Short-term investments | 34,318 | 32,121 | ||||||||
| Accounts receivable, gross | 411,804 | 448,017 | ||||||||
| Allowance for doubtful accounts | (12,680 | ) | (10,742 | ) | ||||||
| Accounts receivable, net | 399,124 | 437,275 | ||||||||
| Short-term finance receivables | 956,767 | 1,019,412 | ||||||||
| Allowance for credit losses | (16,143 | ) | (19,108 | ) | ||||||
| Short-term finance receivables, net | 940,624 | 1,000,304 | ||||||||
| Inventories | 103,195 | 84,827 | ||||||||
| Current income taxes | 33,057 | 40,542 | ||||||||
| Other current assets and prepayments | 71,454 | 57,173 | ||||||||
| Assets held for sale | - | 52,271 | ||||||||
| Total current assets | 2,297,748 | 2,783,658 | ||||||||
| Property, plant and equipment, net | 317,005 | 285,091 | ||||||||
| Rental property and equipment, net | 188,485 | 200,380 | ||||||||
| Long-term finance receivables | 774,690 | 828,723 | ||||||||
| Allowance for credit losses | (6,551 | ) | (9,002 | ) | ||||||
| Long-term finance receivables, net | 768,139 | 819,721 | ||||||||
| Goodwill | 1,753,888 | 1,672,721 | ||||||||
| Intangible assets, net | 192,318 | 82,173 | ||||||||
| Non-current income taxes | 70,731 | 96,377 | ||||||||
| Other assets | 553,467 | 569,110 | ||||||||
| Total assets | $ | 6,141,781 | $ | 6,509,231 | ||||||
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Liabilities, noncontrolling interests and stockholders' equity |
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| Current liabilities: | ||||||||||
| Accounts payable and accrued liabilities | $ | 1,379,337 | $ | 1,572,971 | ||||||
| Current income taxes | 79,689 | 90,167 | ||||||||
| Current portion of long-term debt and notes payable | 521,091 | 324,879 | ||||||||
| Advance billings | 353,467 | 386,846 | ||||||||
| Total current liabilities | 2,333,584 | 2,374,863 | ||||||||
| Deferred taxes on income | 131,416 | 64,839 | ||||||||
| Tax uncertainties and other income tax liabilities | 94,822 | 86,127 | ||||||||
| Long-term debt | 2,471,055 | 2,927,127 | ||||||||
| Other non-current liabilities | 672,507 | 682,646 | ||||||||
| Total liabilities | 5,703,384 | 6,135,602 | ||||||||
| Noncontrolling interests (Preferred stockholders' equity in subsidiaries) | 296,370 | 296,370 | ||||||||
| Stockholders' equity: | ||||||||||
| Cumulative preferred stock, $50 par value, 4% convertible | 1 | 1 | ||||||||
| Cumulative preference stock, no par value, $2.12 convertible | 519 | 548 | ||||||||
| Common stock, $1 par value | 323,338 | 323,338 | ||||||||
| Additional paid-in-capital | 156,195 | 178,852 | ||||||||
| Retained earnings | 5,106,214 | 4,897,708 | ||||||||
| Accumulated other comprehensive loss | (900,852 | ) | (846,156 | ) | ||||||
| Treasury stock, at cost | (4,543,388 | ) | (4,477,032 | ) | ||||||
| Total Pitney Bowes Inc. stockholders' equity | 142,027 | 77,259 | ||||||||
| Total liabilities, noncontrolling interests and stockholders' equity | $ | 6,141,781 | $ | 6,509,231 | ||||||
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(1) Certain prior year amounts have been revised. |
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Pitney Bowes Announces Third Quarter 2015 Financial Results
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